Sberbank: the launch of Apple Pay in Russia marks the end of an era of plastic cards

Payment system Apple Pay only appeared in Russia, and Sberbank has predicted the end of the era of plastic cards market. About it writes “Kommersant”.

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In early October, Sberbank jointly with Apple and MasterCard have announced the launch in Russia of Apple Pay. It was a response to start at the end of September in our country, its direct competitor, the Samsung Pay. This service also came to us with MasterCard, but it is significantly more partners: Alfa-Bank, VTB 24, MTS-Bank, Raiffeisenbank, Bank “Russian standard” and “Yandex”.

Sberbank explains his choice of the technological leadership of Apple. “Apple Pay becoming a driver of the spread of contactless payments in Russia and in the world. Many clients of Sberbank actively use new technologies and will increasingly prefer cashless and contactless payment with your smartphone,”— said in the official press release, the Deputy Chairman of Sberbank Alexander Torbakhov. However, there is another, unofficial reason. As you know, the head of Sberbank German Gref, is a longtime fan of this company.

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After the news about the cooperation of Apple Pay and Sberbank Alexander Torbakhov almost repeated the may thesis your supervisor about the imminent death of the plastic card market. “Cards will soon begin to disappear, I think at the end of next year we will begin to see it,— said Alexander Torbakhov. — We are moving to a world without physical media, no paper and, in particular, without maps”.

This assertion is based on the idea of widespread contactless payments in Russia. “Until the end of the year all of the Federal network will be equipped with (many of them already equipped with) technology of contactless payments acceptance,”— said the representative of “Sberbank”.